VSEC - VSE stock sinks after company announces public offering of common stock
2023-07-19 16:55:01 ET
- VSE Corp ( NASDAQ: VSEC ) announced on Wednesday public offering of its common stock, pursuant to an effective shelf registration statement.
- VSEC shares sink -8.1% in extended trading.
- The company plans to grant the underwriters a 30-day option to purchase up to an additional 15% of the common stock offered in the public offering.
- VSEC added it intends to use the proceeds from the offering to repay outstanding borrowings under its revolving credit facility, and use any remaining amounts for general corporate purposes.
- Press Release
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VSE stock sinks after company announces public offering of common stock